OPEN-SOURCE SCRIPT
Dynamic Zones
FX_IDC
O
109.019
H
109.033
L
109.004
C
109.033
109.033
∅
−0.014 (−0.01%)
Vol
8
∅ (∅%)
RSI
14 close
37.2662
Dynamic Zones
RSI 70 0.12 0.12
64.5113
41.9950
37.2662
Pine Script®
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
//@version=3
//
// A port of the MT4 indicator of Mladen Rakic found at https://www.mql5.com/en/forum/179876
// which is based on Dynamic Zones that was originally published in Stocks & Commodities 1996 issue.
//
// Dynamic Zones is meant to be applied to oscillators to get dynamic overbought and oversold levels
// quantified using statistical methods.
//
// -----------------------------------------------------------------------------
// Copyright 2018 sherwind
//
// This program is free software: you can redistribute it and/or modify
// it under the terms of the GNU General Public License as published by
// the Free Software Foundation, either version 3 of the License, or
// any later version.
//
// This program is distributed in the hope that it will be useful,
// but WITHOUT ANY WARRANTY; without even the implied warranty of
// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
// GNU General Public License for more details.
//
// The GNU General Public License can be found here
// <http://www.gnu.org/licenses/>.
//
// -----------------------------------------------------------------------------
//
study("Dynamic Zones")
input_src = input(close, title="Price Source", type=source)
input_lookbackbars = input(70, title="Lookback Bars", minval=1)
input_startbuyprobability = input(0.12, title="Start Buy Probability")
input_startsellprobability = input(0.12, title="Start Sell Probability")
dzsell(src, initvalue, lookbackbars) =>
left = -10000.0
right = 10000.0
eps = 0.001
yval = (left + right)/2.0
delta = yval - left
maxsteps = 0
for i = 0 to 99999
if not (delta > 0.005 and maxsteps < 50)
break
maxsteps := maxsteps + 1
count = 0
for k = 0 to lookbackbars - 1
if src[k] > yval
count := count + 1
prob = count / lookbackbars
if prob > (initvalue + eps)
left := yval
yval := (yval + right)/2.0
if prob < (initvalue - eps)
right := yval
yval := (yval + left)/2.0
if prob < (initvalue + eps) and prob > (initvalue - eps)
left := yval
yval := (yval + right)/2.0
delta := yval - left
[yval, delta, maxsteps]
dzbuy(src, initvalue, lookbackbars) =>
left = -10000.0
right = 10000.0
eps = 0.001
yval = (left + right)/2.0
delta = yval - left
maxsteps = 0
for i = 0 to 99999
if not (delta > 0.005 and maxsteps < 50)
break
maxsteps := maxsteps + 1
count = 0
for k = 0 to lookbackbars - 1
if src[k] < yval
count := count + 1
prob = count / lookbackbars
if prob > (initvalue + eps)
right := yval
yval := (yval + left)/2.0
if prob < (initvalue - eps)
left := yval
yval := (yval + right)/2.0
if prob < (initvalue + eps) and prob > (initvalue - eps)
right := yval
yval := (yval + left)/2.0
delta := yval - left
[yval, delta, maxsteps]
[sell_zone, sell_delta, sell_maxsteps] = dzsell(input_src, input_startsellprobability, input_lookbackbars)
[buy_zone, buy_delta, buy_maxsteps] = dzbuy(input_src, input_startbuyprobability, input_lookbackbars)
upper_band = plot(sell_zone, title="Sell Zone", color=gray)
lower_band = plot(buy_zone, title="Buy Zone", color=gray)
fill(upper_band, lower_band, color=purple, transp=90)
plot(input_src, color=purple, transp=0)
//
// A port of the MT4 indicator of Mladen Rakic found at https://www.mql5.com/en/forum/179876
// which is based on Dynamic Zones that was originally published in Stocks & Commodities 1996 issue.
//
// Dynamic Zones is meant to be applied to oscillators to get dynamic overbought and oversold levels
// quantified using statistical methods.
//
// -----------------------------------------------------------------------------
// Copyright 2018 sherwind
//
// This program is free software: you can redistribute it and/or modify
// it under the terms of the GNU General Public License as published by
// the Free Software Foundation, either version 3 of the License, or
// any later version.
//
// This program is distributed in the hope that it will be useful,
// but WITHOUT ANY WARRANTY; without even the implied warranty of
// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
// GNU General Public License for more details.
//
// The GNU General Public License can be found here
// <http://www.gnu.org/licenses/>.
//
// -----------------------------------------------------------------------------
//
study("Dynamic Zones")
input_src = input(close, title="Price Source", type=source)
input_lookbackbars = input(70, title="Lookback Bars", minval=1)
input_startbuyprobability = input(0.12, title="Start Buy Probability")
input_startsellprobability = input(0.12, title="Start Sell Probability")
dzsell(src, initvalue, lookbackbars) =>
left = -10000.0
right = 10000.0
eps = 0.001
yval = (left + right)/2.0
delta = yval - left
maxsteps = 0
for i = 0 to 99999
if not (delta > 0.005 and maxsteps < 50)
break
maxsteps := maxsteps + 1
count = 0
for k = 0 to lookbackbars - 1
if src[k] > yval
count := count + 1
prob = count / lookbackbars
if prob > (initvalue + eps)
left := yval
yval := (yval + right)/2.0
if prob < (initvalue - eps)
right := yval
yval := (yval + left)/2.0
if prob < (initvalue + eps) and prob > (initvalue - eps)
left := yval
yval := (yval + right)/2.0
delta := yval - left
[yval, delta, maxsteps]
dzbuy(src, initvalue, lookbackbars) =>
left = -10000.0
right = 10000.0
eps = 0.001
yval = (left + right)/2.0
delta = yval - left
maxsteps = 0
for i = 0 to 99999
if not (delta > 0.005 and maxsteps < 50)
break
maxsteps := maxsteps + 1
count = 0
for k = 0 to lookbackbars - 1
if src[k] < yval
count := count + 1
prob = count / lookbackbars
if prob > (initvalue + eps)
right := yval
yval := (yval + left)/2.0
if prob < (initvalue - eps)
left := yval
yval := (yval + right)/2.0
if prob < (initvalue + eps) and prob > (initvalue - eps)
right := yval
yval := (yval + left)/2.0
delta := yval - left
[yval, delta, maxsteps]
[sell_zone, sell_delta, sell_maxsteps] = dzsell(input_src, input_startsellprobability, input_lookbackbars)
[buy_zone, buy_delta, buy_maxsteps] = dzbuy(input_src, input_startbuyprobability, input_lookbackbars)
upper_band = plot(sell_zone, title="Sell Zone", color=gray)
lower_band = plot(buy_zone, title="Buy Zone", color=gray)
fill(upper_band, lower_band, color=purple, transp=90)
plot(input_src, color=purple, transp=0)
A port of the MT4 indicator of Mladen Rakic found at mql5.com/en/forum/179876
which is based on Dynamic Zones that was originally published in Stocks & Commodities 1996 issue.
Dynamic Zones is meant to be applied to oscillators to get dynamic overbought and oversold levels
quantified using statistical methods.
which is based on Dynamic Zones that was originally published in Stocks & Commodities 1996 issue.
Dynamic Zones is meant to be applied to oscillators to get dynamic overbought and oversold levels
quantified using statistical methods.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
8 comments
I have not released it as public because it is not my script to release. TradingView House Rules must be respected, and should I wish to release it as Public, I would first need to ask the Author for Permission to Re-Use his script, as well as update my version to something that is more read-able and user-friendly. I aim to provide insightful ideas and thinking with my current library of Open-Source scripts, and try to come up with original ideas, which this is not. If the author gives me permission, I would gladly make a private publication(So it does not show on my Main Library) with Open-Source Code and share it here so others who may be interested may get it here. However I did nothing fancy, just copy & pasted a few lines from the original script for personal use.
-Regards,
@DayTradingOil